502 Redondo Dr APT 112Downers GroveIL60516
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Downers Grove at 502 Redondo Dr APT 112, Downers Grove, IL, 60516 uses $65,969 cash to close to unlock $2,048/yr annual cash flow and $171/mo monthly cash flow. Total monthly income runs $1,551/mo, and a $974/mo payment keeps the spread at $171/mo. Purchase price stands at $199,000, and rental yield measures 9.35% with $1,551/mo rent. Return on cash invested shows 23.01% in year one, and 5% annual appreciation builds toward $54,980 over five years. Five-year ROI reaches 120.48% and total cumulative return in cash records $79,482. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,551/mo property income covering a $974/mo payment rather than investor’s personal income.
Condo
Built in 1969
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 60516, Downers Grove, IL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,143 (100%) |
| Owner Occupied HU | 9,447 (77.8%) |
| Renter Occupied HU | 2,199 (18.1%) |
| Vacant Housing Units | 497 ( 4.1%) |
| Median Home Value | $445,381 |
| Average Home Value | $482,842 |
Housing Distribution
Address Breakdown
Residential
11,886
Single Family
9,346
Multi-Family
2,540
Businesses
290
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Listed by: Maria Baran • RE/MAX Enterprises
Mls Name: MRED as distributed by MLS GRID
Mls ID: #12424909